New Delhi, India, Nov. 09, 2020 (GLOBE NEWSWIRE) — OpenDeFi, a decentralized finance (DeFi) startup bridging the gap between real world assets and DeFi, has announced its Initial Dex Offering (IDO) on 11 November, 2020 at 08:30am UTC on Uniswap. The initial market cap upon listing will be under $250,000 with a very low fully diluted market cap providing risk mitigation against unlocking dumps and token inflation.
In October 2020, OpenDeFi announced a successful $1 million private sale funding round by leading blockchain investors including MoonRock Capital, TRG Capital, Alphabit, Lotus Capital, AU21, and more. The company has gained significant traction in recent weeks, becoming one of the most highly anticipated projects in the DeFi industry. Recently, OpenDeFi has announced partnerships with Matic, Tezos, MoonRock Capital, Rarestone Capital, Dfinance, UniLend, Frontier, and other leading blockchain companies.
OpenDeFi CEO and Co-founder, Mohit Madan explains, “We are extremely excited to welcome some of the best investors, advisors, and community to OpenDefi. Our upcoming IDO will act as our official go to market for ORO tokens, allowing our global community the opportunity to acquire ORO tokens to stake and earn inflationary rewards generated by the network.”
OpenDeFi’s IDO comes as Bitcoin prices have attracted great interest in the crypto market, particularly for projects with real world applications. OpenDeFi was built by seasoned blockchain entrepreneurs with the goal of democratizing access and use of real world assets by everyone around the world. All tokenized assets on OpenDeFi will be 100% insured, backed by an actual physical asset, and held by a custodian. This allows safe financial inclusion for individuals and companies alike.
OpenDeFi’s COO & Co-Founder Tarusha Mittal says, “We have seen a gap in the market for projects that have functioning products ready for use. We are proud to have a live pilot so users and potential token holders can experience a small part of what we are building. We are excited to share our vision with the world.”
OpenDeFi, powered by OroPocket, is creating a bridge between real world assets and the DeFi space by tokenizing real world assets and providing a slew of financial services on top of these assets. These include staking assets to earn a rent or yield, flash loans against investments, instant exchange without slippage, asset backed cards to spend investments in real time, and cross-chain value creation by allowing the free movement of assets across chains. Currently, OpenDeFi has a live pilot with gold and silver where this functionality can be used.
Press Contact: Tarusha Mittal, firstname.lastname@example.org